The US domestic docket offered little to excite investors on Friday and once markets re-opened after the Thanksgiving Holiday the US stock market and bond yields dropped on the back of risk aversion. However, the US Dollar index which measures the greenback’s strength against a basket of six major currencies, climbed to a one-week high of 96.98 in late North American trade as heightened risk aversion boosted demand for the currency.
The US stock market has certainly taken a beating down nearly 4 percent in just a few days, according to Bloomberg the S&P 500 posting the third-worst Thanksgiving week in 80 years. Meanwhile, oil prices were the main focus on Friday with West Texas falling almost 8% to a shade above $50 per barrel, this was the lowest since October 2017.
A quiet start to the week, Wednesday sees things kick-off with a couple of Fed members due to speak ahead of the main Fed chairman. Also investors will be focusing their attention to Friday’s meeting with Trump and the Chinese president at the G20 summit.